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This newsletter was published 1.6.2022 at 16:29pm CEST
The current prices on the European carbon market are as follows:
Price of EUAs has been relatively stable week-to-week, as market participants await potential new information that would affect their value. Two-day summit of EU leaders has ended yesterday, however not much has been revealed about RePowerEU plan at the press conference afterwards and suggested additional EUA sales from Market Stability Reserve (MSR). Market may have currently accepted consensus that no additional sales will take place until 2023, however it seems to be very sensitive for potential changes. Some are already expecting that parliamentary vote, scheduled for the next week, might result in lowered EU ETS ambitions regarding emissions. Senior lawmakers are reported to be targeting 63 percent emission reduction by 2030, as compromise between Brussels’ suggested 61 percent and 67 percent sought in an interim parliamentary ballot. Period with only a few scheduled auctions might have contributed to very slow market in recent days and lower than usual volumes. Nearing of the second quarterly option expiry this year might play a role in limiting higher prices in current market environment, since sellers seem to be succeeding in keeping price of front year futures contract below 85 EUR.
German power prices are up by 13.20 EUR since last week, with the front year contract trading at 241.00 EUR/MWh. API2 coal prices are up by 6.50 USD since last week, with the Cal23 contract trading at 229.50 USD/tonne. EUR/USD is unchanged since last week and is currently trading at 1.0670.
Price development of EUA Dec2022 futures contract